Reasons for hope on climate change

EDITOR: These are heady times for those of us who believe global warming is the gravest threat to human civilization and life on earth. Last month, the New York Attorney General announced an investigation into Exxon Mobil, which has allegedly known about climate change since 1977 and systematically lied to its investors and purposely misled the public (can you say “tobacco executives”)? Moreover, President Obama deep-sixed the Keystone XL pipeline, a huge victory for we environmentalists.

From Nov. 30 through Dec. 11, the United Nations Climate Conference is meeting in Paris. Its expected 150 countries representing 90 percent of the world’s greenhouse gas production will sign a historic climate protocol. If so, it is hoped the world will not heat up more than 2 degrees Celsius.

The known fossil fuel reserves are over five times what scientists think is a safe amount to burn without developing catastrophic global warming. The answer is clear: Fossil fuels must be left in the ground. At least two initiatives are attacking this problem: divestiture and carbon pricing.

The divestiture movement withdraws portfolio investments from fossil fuels. It has accelerated in the last year. The total worldwide divestments have gone from $50 billion to $2.6 trillion during that time. One of the most recent divestments was the pension plans of both teachers and state employees in California.

Carbon pricing is being widely discussed and makes sense to implement. The idea is to produce fees for every ton of carbon (coal, oil and gas) that’s mined and return these fees to the electricity users (revenue neutral, fee and dividend). Studies have shown that this system will lower fossil fuel production, create jobs and make renewables (solar and wind) more affordable. Let’s join the real world and develop this plan.